Federal Reserve Chair Kevin Warsh has completed the sale of financial holdings he agreed to divest under an ethics agreement, according to an updated certification filed with the Office of Government Ethics.
Warsh signed the certification Thursday, confirming that the remaining assets covered by the agreement had been sold. The document was made public on the Office of Government Ethics website Saturday.
The disclosure completes a divestiture process Warsh began before taking over as Fed chair in May. An earlier filing showed that he had already sold most of the investments covered by the agreement.
Warsh completes remaining sales
The latest certification does not identify the underlying assets sold where confidentiality restrictions apply. Warsh had agreed to divest a range of investments as part of his ethics arrangements with the government.
Some of the positions were substantial. Previous financial disclosures showed Warsh and his wife held combined assets worth at least $192 million. His portfolio also included private investments whose underlying holdings were not disclosed because of confidentiality agreements, including positions valued at more than $100 million.
The divestitures were intended to address potential conflicts involving the Fed chair’s personal financial interests while he serves at the central bank.
Crypto exposure was part of earlier disclosures
Warsh’s previous financial disclosures also showed exposure to cryptocurrency and blockchain-related investments, although many of the individually disclosed positions were relatively small. Those filings included investments linked to companies and projects such as Compound, dYdX, Lighter, Solana, Optimism, Blast, Flashnet, Polymarket, Crossmint, Dapper Labs, Tenderly and Vana.
Many of those positions were valued at less than $1,000 under federal disclosure rules. Other private investment vehicles were substantially larger, although their underlying assets were not fully disclosed. The latest ethics certification confirms that the holdings covered by Warsh’s divestiture agreement have now been sold.
Divestiture removes a financial disclosure issue
The completed sales reduce the financial interests Warsh had identified for divestment as he leads the Federal Reserve. The ethics certification does not mean every investment associated with Warsh’s broader financial portfolio has been publicly identified. Rather, it confirms compliance with the specific divestiture commitments outlined in his ethics agreement.
Warsh took over as Fed chair in May, making the completion of the sales part of the broader ethics and financial-disclosure requirements surrounding his tenure.
Warsh weighs fewer Fed meetings
The move comes just days after Warsh raised the possibility of reducing the number of regularly scheduled Federal Open Market Committee meetings, according to a New York Times report citing people familiar with the discussions. The FOMC currently has eight scheduled meetings a year.
Warsh reportedly asked Fed officials for their views on changing the meeting calendar, with a decision potentially coming before the September meeting. No change has been finalized, and the Fed has already published its 2026 schedule.
The proposal could also affect how financial markets respond to monetary-policy decisions, particularly for 24-hour markets such as cryptocurrencies, where Fed announcements can influence trading volatility. Any change would likely take effect after the current 2026 schedule, potentially in 2027.
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